Digitalization innovative business models is the technique of converting hard/paper files and documents into digital types. This allows info and details to be seen instantly. This will make it easier for your business to manage the operations and helps to create fresh opportunities meant for revenue generation. Whether you have outdated legal systems, manual operations that can become automated or perhaps inefficient communication between workers and managers, business digitization can help you fix these issues and boost production.
The COVID-19 outbreak exhibited the practical value of digitalization in public places crisis response approaches. However , digitalization is not enough to respond to ongoing threats. Instead, companies need to seek to turn risks into prospects through strategic responses. This is exactly why it is important for businesses to have potent capabilities – a combination of techniques and solutions that enables these to adapt when confronted with disruption (George et approach. 2014; Nylen and Holmstrom 2015).
Existing research has displayed that digitalization can boost firm’s potent features by elevating their ability to sense the planet, to catch opportunities, and reconfigure assets. Moreover, these types of capabilities happen to be critical for firms’ ability to successfully manage general public crises. Depending on these results, this article explores the associations between digitalization, dynamic features, and public crisis response strategies simply using a survey involving 518 SMEs in China. The results present that SMEs with huge levels of digitalization have better crisis response performances than those with low level of digitalization. Further, a qualitative research suggests that digitalization can help SMEs develop and implement short-term emergency replies and long lasting crisis supervision approaches.